We Accelerate Retirement Savings

Let’s face it… As business owners, many of us have been so focused on growing our most valuable asset (our business) that we have ignored the idea of saving for retirement.   Others have been working hard to pay off student loans and just now (although later in life than their peers) have the income to start saving.  No matter what your situation, it is never too late to start saving for retirement.

Many people are worried that even if they start saving today, that there will be no way to catch up on their retirement savings with the deduction limit of IRA’s and 401k’s being so low.

Fortunately, there are many other options beyond the IRA or 401k that we have at our disposal when it comes to large pre-tax contributions.   Simply by adding a profit sharing plan to a 401k, we can increase deductions from $16,500 to $49,000.   Or if $49,000 is still not enough of a contribution, we can utilize tools such as Defined Benefit Plans, DB/DC Combo Plans and Cash Balance Plans.  Depending on your age and income, many of our clients can easily realize a $150K-$250K annual contribution into their retirement plan.

Don’t hesitate to contact us today if you have some catching up to do on your retirement savings!